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A former presidential spokesperson, Doyin Okupe, has condemned the call by billionaire businessman, Aliko Dangote for the complete removal of fuel subsidy.
Naija News recalls that Dangote earlier urged the federal government to put a total end to fuel subsidy.
However, speaking with newsmen on Tuesday, Okupe stated that petrol is the economic oxygen of Nigerians.
He insisted that with the coming up of local refineries, some level of succour should be given to Nigerians.
According to him, with the allocation of 450,000 barrels a day for local consumption, Nigeria can combine the advantage of local production with local consumption and determine the price to sell crude to local refineries.
He said, “With utmost respect, I disagree with Aliko Dangote on his suggestion that the government should completely end subsidy now.
“Petrol is the economic oxygen of Nigerians, whether rich or poor. This is not the situation in other countries of the world.
“We can use opportunities that these local refineries avail us, ensuring adequate fuel supply with the dedicated or allocated daily crude oil for local consumption, which is outside OPEC quota.
“So, whatever we do with it is our internal affairs, it is a way of providing some level of comfort.
“We can sell this daily crude oil allocation for local consumption cheap to determine the average pump price of Premium Motor Spirit in the country.
“For instance, the price of Nigerian crude per barrel is $77, we can decide to sell to Dangote refinery at $35 or $37 per barrel, thereby having made adjustments of processing fees and profit margin, the pump price of petroleum can actually come down to N500 or N600 per litre.
“This will definitely bring a major relief, comfort and succour to the masses.”
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